Hi - bought a house - so transferred XXX from Money market to house account
as part of downpayment. Loan account for remainder setup and working with
scheduled payments. Problem is: House account shows purchase price PLUS
downpayment.
I plan to expense the closing costs etc, but why does the house account
appear overinflated. What was i meant to do with the deposit?
Thanks

Your best bet is to adjust the asset beginning balance downward by the
amount in question. The loan setup wizard is pretty brute force in how it
sets up the asset account if you tell it to do so. An even better one is to
set it to $0 and then account for its value as transfers from all relevant
transactions including those from the closing. See
http://umpmfaq.info/faqdb.php?q=155 and its related question,
http://umpmfaq.info/faqdb.php?q=86 for some related information that may
give you some idea how to do the transactions for a purchase.

"erwinbartsch" <erwinbartsch@discussions.microsoft.com> wrote in message
news:3E4A3CC4-44C0-44FE-BFFF-AD34070413EA@microsoft.com...
> Hi - bought a house - so transferred XXX from Money market to house
> account
> as part of downpayment. Loan account for remainder setup and working with
> scheduled payments. Problem is: House account shows purchase price PLUS
> downpayment.
> I plan to expense the closing costs etc, but why does the house account
> appear overinflated. What was i meant to do with the deposit?